How do bikes depriciate? If I spent £1000 on a bike 3 years ago, used it an average amount and it was well specced from a mainstream brand - how much would it be worth, assuming size is middl of the road Medium?
-50% for the first year
then - 10% per year after that
so about £350-400
Isn't the formal something like
50% for 1st year then 10% of the rest per year.
So according to the sums, about 40% of the purchase price after 3 years.
It does of course depend on upgrades, use, etc, but 40% sounds a reasonable figure.
I just judge them on condition, and current models seem to be a higher value, so if you fancy a pair of PIKEs for example, buy them next year when they've been discontinued, should knock a good 30% off prices as people with them want to upgrade, people without them dont really want an obsolete model.
By any chance is your Bike2Work hire period about to end?! 3 years is standard for those, and I understand that they charge you a small percentage of the bike's worth at the end to close out the agreement.
I am in the same boat if so!
By any chance is your Bike2Work hire period about to end?! 3 years is standard for those
Is it? - I thought it was 1 year?
if it's a bike-to-work bike then it should be a nominal fee, not a 'normal' classifieds price.
I forget what the normal % is (5%??), but it's not very high, re-post asking specifically for that.
Okay, so what if the usage of the bike is well below average, like four times a year?
Its NOT bike2work - just one my mate is looking at buying.
However, B2W is 1 year NOT 3. Our place said the nominal fee would prob be equivalent of another months payment.
So we're looking at £400 for a 3 year old £1000 bike?
Okay, so what if the usage of the bike is well below average, like four times a year?
I'd say a 10-15% premium
The scheme my company uses (there are several) is 3 years! and yes, it's also around 5% apparently.
So we're looking at £400 for a 3 year old £1000 bike?
About that, yes.
Some brands hold their value much more (Santa Cruz and Orange spring to mind) so they will always get a higher price.
Like cars, the common or obscure (unless very niche/expensive) will depreciate more as either there's a lot of them about or there is insufficient of them in the marketplace for folk to form an opinion
Mind you not knowing anything about something or being ill informed does not stop some folk on here from giving a view 😉
I tend to see what equvalents are selling for on the forums and ebay.
If you know the bike has been used infrequently or looked after etc... it will be worth a bit more.
For example if you need a tyre, chain, cassette, re-greased headset then it is going to be -£50 off the £400ish recommendation.
If the front and rear shocks havent seen much attention in that time then having them serviced professionally will be £150ish.
So that makes it a £200 bike to buy. Or £600 if you buy it for £400 and then have to do the work within a short period.
Obviously there is going to be some wear and tear but if it hits you in the pocket almost immediately then look elsewhere.